Plans were outlined yesterday on both sides of the Atlantic to secure fuel supplies and reduce consumption amid growing concern over rising oil prices, terrorist threats and surging demand from a voracious China.

The European Union's top energy policymaker vowed to put the security of the bloc's energy supply at the heart of his tenure. Andris Piebalgs, appointed EU energy commissioner in November, told the Financial Times: "My most important priorities in the coming months are energy efficiency and security of supply."